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Tax News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Cricket club stumped by VAT dispute - October 17, 2017
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An Oxfordshire cricket club has been left having to stump up a hefty tax bill after losing a VAT dispute. Despite the common misconception that charitable organisations are exempt from VAT, Eynsham Cricket Club was forced to pay 20 per cent VAT in respect of works to construct its new pavilion. A ruling by a … Continue reading Cricket club stumped by VAT dispute


Students could be entitled to a tax refund as they head back to university - October 17, 2017
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Students who have been heading back to university in recent weeks could be entitled to a helpful tax refund, according to HM Revenue & Customs (HMRC). Those who worked through their summer holidays may have been taxed through PAYE, as if they were earning at that level year-round, but it is unlikely that their earnings … Continue reading Students could be entitled to a tax refund as they head back to university


Dividend Tax changes set to hit small business owners and investors - October 17, 2017
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Changes to the Dividend Tax regime, which will see the existing tax-free allowance fall from £5,000 to £2,000 from April next year, are set to hit small business owners and investors. The changes currently being considered by MPs as part of the Finance Bill 2017-19 had been delayed when what is now the Finance Act … Continue reading Dividend Tax changes set to hit small business owners and investors


Moore Thompson’s free property tax video clears up confusion for buy-to-let landlords - September 25, 2017
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In recent years, the UK’s property tax framework has been growing increasingly complex and confusing, thanks to recent changes made to the likes of mortgage interest tax relief, Stamp Duty Land Tax (SDLT) and more. Budding investors and portfolio landlords looking to expand their operations have a lot to keep up with if they want … Continue reading Moore Thompson’s free property tax video clears up confusion for buy-to-let landlords


HMRC dynamic coding causes issues for taxpayers - September 25, 2017
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From July this year, HM Revenue & Customs (HMRC) has been utilising its new system of dynamic coding, which allows for in-year adjustments (IYAs) of a person’s tax code. Under the new regime, codes can be adjusted by the Revenue to reflect sudden changes in an employee’s circumstances as soon as HMRC becomes aware of … Continue reading HMRC dynamic coding causes issues for taxpayers


Taxpayers begin to receive simple assessment requests (PA302) - September 25, 2017
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Taxpayers across the UK will have begun to receive a simple assessment (form PA302) from HM Revenue & Customs (HMRC), which will ask for payment of tax that cannot be coded out under PAYE. A simple assessment is a tax assessment made by HMRC, which was launched with the aim of taking taxpayers out of … Continue reading Taxpayers begin to receive simple assessment requests (PA302)


HMRC launches new online forum to give small business owners direct tax advice - September 25, 2017
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A new online forum has been launched by HM Revenue & Customs (HMRC) which has been designed to help company owners resolve simple issues related to starting and growing a company. The new website provides a message board, discussions and a webchat where business owners can query HMRC’s tax experts in real time. Categories listed … Continue reading HMRC launches new online forum to give small business owners direct tax advice


Revenue’s crackdown on VAT evaders yields £3.4 billion from small and medium firms - September 25, 2017
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New analysis of HM Revenue & Customs’ (HMRC’s) data has revealed that the department collected an additional £3.4 billion from small and medium-sized businesses in the tax year to April 2017. Investigations in the 2016/17 tax year by HMRC’s compliance department saw 49 per cent of the additional revenue collected come from VAT investigations into … Continue reading Revenue’s crackdown on VAT evaders yields £3.4 billion from small and medium firms


Self-employed workers may miss out on mortgages due to changes in delivery of SA302 forms - September 25, 2017
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Self-employed workers in the UK have reported their struggles to acquire a mortgage, after HM Revenue & Customs (HMRC) changed the way it issues details of tax calculations and tax year overviews for submission with mortgage applications. Until recently accountants and workers themselves have been able to obtain a paper copy of form SA302 that … Continue reading Self-employed workers may miss out on mortgages due to changes in delivery of SA302 forms


Research suggests majority of people have not made preparations for IHT - September 25, 2017
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It is understandable that many people are reluctant to consider what will happen to their wealth and assets when they are no longer here, but it makes sense to put a plan in place while you are still alive to ensure your wishes are met and your loved ones are protected. Recent research, conducted by … Continue reading Research suggests majority of people have not made preparations for IHT


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